Sony SCD-777es or Modified Link DAC III

Yes. The MSB (if properly modified..perhaps by Stan Warren for instance) will crush the Sony. There is no comparison between these units. The MSB, after it is modified correctly, is an unbelievable D/A which gives other ultra expensive d/a's a serious run for their money. (I should note that my modified MSB has actually beat many of the so called recommended ultra high end d/a's, in a/b comparisons). In my opinion, a modified MSB is by far the best bang for the buck, in digital today.

Follow-up to above answer. To expand on my term "properly modified", I mean a stripping out the entire origianl output devices, and replacing them with a serious descrete output stage. This is in Addiotn to digital filter enhancements and power supply upgrades. (There are many guys out there doing cap and resistor swaps. These "modifications" are minor sonically, as compared to replacing the output stages and improving the digital filtering.)

I have not compared them Martice, but hearing the MSB I found it to be on the "busy and brash" side - similar to the Audio Alchemy DACs. It was not to my taste, but has a liveliness that serves the music. There are DACs at a similar price that give you a different presentation that you should probably be thinking about too.